A 36-unit residential development project in Ladysmith is the first to receive funding through the CVRD’s affordable housing service.
The development at 314 Buller Street will offer housing for families with low and moderate-income levels, seniors, and those with developmental disabilities.
Chair of the Cowichan Valley Regional District board and Mayor of Ladysmith Aaron Stone said this project is just the beginning.
“Those folks with developmental disabilities live with family, but at some point when they become adults it becomes difficult for their families to be able to provide the level of care for them,” said Stone. “I know that’s going to be part of what this project will help provide is affordable housing and opportunities and supports for them.”
The development costs a little more than $10,308,822 dollars all in and will offer housing to families with low to moderate-income levels, people with developmental disabilities, and seniors.
Stone said the Canada Mortgage and Housing Corporation has contributed $1,500,000 dollars to the project and that was key to getting it off the ground.
“We’re very thankful for the senior government funding to help make it possible and I think this is a good example of the kinds of projects we need to see move forward in the region to help address the affordability crunch,” said Stone.
Guido Weisz, the President of the Ladysmith Resource Centre Association said, “We sincerely thank the people of the Cowichan region for this funding. It brings us a step closer to the fruition of this project, which we hope to break ground on this summer.”
Funding breakdown ($6,645,989):
BC Housing: 3,600,000
Canada Mortgage and Housing Corporation: 1,500,000
Ladysmith Resources Centre Association: $970,000
CVRD Housing Trust Fund: $$317,000
Town of Ladysmith: $258,989
